Intel (NASDAQ:INTC) Trading Up 2.8% – What’s Next?

Intel Co. (NASDAQ:INTC)’s stock price traded up 2.8% on Thursday . The stock traded as high as $20.68 and last traded at $20.68. 25,728,777 shares were traded during trading, a decline of 58% from the average session volume of 61,425,883 shares. The stock had previously closed at $20.12.

Wall Street Analysts Forecast Growth

INTC has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a report on Friday, November 1st. Rosenblatt Securities reaffirmed a “sell” rating and set a $17.00 price target on shares of Intel in a research report on Tuesday, October 29th. Mizuho boosted their price target on Intel from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Stifel Nicolaus restated a “hold” rating and issued a $25.00 price objective (down from $28.00) on shares of Intel in a research note on Friday, October 25th. Finally, Daiwa America upgraded Intel to a “hold” rating in a research report on Monday, August 26th. Six analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $30.04.

Intel Stock Performance

The company has a market capitalization of $87.73 billion, a price-to-earnings ratio of -5.47 and a beta of 1.05. The firm has a fifty day simple moving average of $23.12 and a 200 day simple moving average of $25.23. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The company had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. Intel’s revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.28 EPS. On average, analysts anticipate that Intel Co. will post -0.87 earnings per share for the current fiscal year.

Insider Transactions at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total transaction of $650,000.00. Following the completion of the sale, the executive vice president now directly owns 273,258 shares in the company, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.04% of the company’s stock.

Institutional Investors Weigh In On Intel

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Retirement Systems of Alabama lifted its stake in shares of Intel by 0.8% in the third quarter. Retirement Systems of Alabama now owns 946,906 shares of the chip maker’s stock worth $22,214,000 after buying an additional 7,857 shares in the last quarter. Denver PWM LLC boosted its holdings in shares of Intel by 752.1% during the 3rd quarter. Denver PWM LLC now owns 26,425 shares of the chip maker’s stock worth $620,000 after purchasing an additional 23,324 shares during the last quarter. World Investment Advisors LLC increased its holdings in shares of Intel by 59.6% in the third quarter. World Investment Advisors LLC now owns 42,990 shares of the chip maker’s stock valued at $1,009,000 after purchasing an additional 16,046 shares during the last quarter. SOA Wealth Advisors LLC. lifted its position in Intel by 7.3% during the third quarter. SOA Wealth Advisors LLC. now owns 9,076 shares of the chip maker’s stock worth $213,000 after buying an additional 615 shares in the last quarter. Finally, Advisory Resource Group boosted its stake in Intel by 6.7% during the third quarter. Advisory Resource Group now owns 16,579 shares of the chip maker’s stock worth $389,000 after buying an additional 1,034 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

About Intel

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products and services worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services segments. The company's products portfolio comprises central processing units and chipsets, system-on-chips (SoCs), and multichip packages; mobile and desktop processors; hardware products comprising graphics processing units (GPUs), domain-specific accelerators, and field programmable gate arrays (FPGAs); and memory and storage, connectivity and networking, and other semiconductor products.